A mortgage broker assists borrowers by arranging financing and locating a lender. They are licensed, financial professionals that conduct research, counsel borrowers on loan packages, and offers advice, enabling the borrower to find the mortgage that best suits the borrower's needs. In general, mortgage brokers have hundreds of mortgage programs to offers, depending on the borrowers needs, credit, and income. The mortgage broker are paid a fee by the borrower or the lender when the mortgage closes.